Telegram Secures $1.5B Bond Sale with 9% Yield Amid Legal Scrutiny

Telegram is poised to raise at least $1.5 billion through a high-yield bond issuance this week, attracting heavyweight investors like BlackRock, Citadel, and Abu Dhabi’s Mubadala. The five-year bonds offer a 9% yield, with proceeds earmarked to repurchase existing debt from 2021 maturing next March. The company has already retired $400 million of that obligation using cash reserves.

The bond terms include an equity conversion option should Telegram pursue an IPO—though market volatility and CEO Pavel Durov’s ongoing legal troubles in France cast doubt on near-term public listing plans. French authorities are investigating Durov for alleged non-cooperation with probes into illicit platform content.

This capital raise underscores institutional appetite for tech-adjacent debt despite regulatory headwinds. The participation of marquee firms signals confidence in Telegram’s financial resilience as it navigates both legacy liabilities and fresh legal challenges.